Organizations Filed Purposes:
See part I, line 1.
To build better neighborhoods by physical improvement of homes and surroundings, and by promoting and strengthening home ownership. Major activity in this fiscal year has been development and construction of a cluster of eight townhouses on Wilmington's East Side.
Community planning and development: coordination with and support of other neighborhood organizations. During the fiscal year ended June 30, 2016, the Foundation was engaged in development and construction of a project to build eight new low-to-moderate income homes in its target area. Construction commenced in November 2015 and was completed in October 2016. Sales of all eight units were closed between October 2016 and June 2017. To more fairly present the Foundation's activities, $669,483 of capitalized costs are included in expenses and deducted in Part IX, line 24. During the year ended June 30, 2017, Foundation management pursued various community development and housing renewal projects, including a multi-use renovation of a former church building at 922 Lombard Street. Pre-acquisition deposits and planning expenses totaling $28,827 were incurred, of which $25,827 was capitalized. Acquistion and financing transactions were closed during July, 2017. Investment in the project is expected to reach $400,000, funded by a loan and public and private grants.
Housing renewal: Rehabilitation of distressed homes for resale to qualified buyers. No acquisiton or construction activity took place during the year ended June 30, 2016. For the year ended, June 30, 2017,the Foundation acquired and began planning for the rehabilitation of a new project.
Services to homeowners: offering funding of critical repairs or improvements to qualified homeowners when no other resources or conventional financing are available.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Timothy Crawl-Bey | Executive Director | 40 | $101,500 |
| John Mitchell | Vice President | 5 | $0 |
| John Stafford | President | 10 | $0 |
| Barbara Y Washam | Director | 0.5 | $0 |
| Joel D Stango | Director | 0.5 | $0 |
| Glenn Kocher | Director | 0.5 | $0 |
| Beverly G Bell | Director | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201830449349301203_public.xml